Anthony Pearlgood, BSIA Information Destruction Section vice-chairman, said: “Identity fraud is a very serious issue, not just for individuals, but for businesses as well. If fraudsters get hold of sensitive information about your business, they can obtain credit and set up bank accounts in your company’s name or arrange fraudulent transactions with suppliers. If your customers’ details are breached, you are also liable under the Data Protection Act.
“The consequences of identity fraud are potentially huge – financial risk, loss of reputation and loss of customer confidence. In addition, there is the time and inconvenience involved in contacting the authorities and sorting out paperwork once a security breach has occurred.”
Pearlgood said there are many ways businesses can protect themselves from identity fraud: through ensuring IT is secured, protecting company details at Companies House, and by using a professional information destruction company which complies with British Standards to dispose of confidential waste.
